The Nigerian stock market sustained its upward trajectory on Wednesday as the All-Share Index (ASI) advanced by 0.61 percent to close at 219,586.20 points, up from 218,249.81 recorded in the previous session.
Equities market capitalisation rose from ₦140.52 trillion to ₦141.38 trillion, translating to a ₦861 billion increase in investor wealth, driven by renewed buying interest across consumer goods, industrial and service stocks.
Market Activity
Trading activity moderated compared to the previous session, with investors exchanging 683.68 million shares valued at ₦36.17 billion in 51,694 deals.
Despite the decline in volume and value, the positive price movement indicates stronger, quality-driven buying rather than broad-based accumulation.
Top Gainers
Market gains were broad-based, with multiple sectors recording strong price appreciation.
Leading the gainers’ chart were:
- UAC of Nigeria Plc (UACN): +10.00% to ₦121.00
- Chemical and Allied Products Plc (CAP): +10.00% to ₦110.00
- Vitafoam Nigeria Plc (VITAFOAM): +10.00% to ₦143.00
- Transcorp Hotels Plc (TRANSCOHOT): +10.00% to ₦223.30
- Trans-Nationwide Express Plc (TRANSEXPR): +10.00% to ₦7.92
The strong performance across diverse sectors highlights a broadening of market participation beyond banking stocks.
Top Losers
On the downside, losses were concentrated in smaller-cap equities:
- Neimeth International Pharmaceuticals Plc (NEIMETH): -10.00% to ₦9.00
- Abbey Mortgage Bank Plc (ABBEYBDS): -9.85% to ₦5.95
- LivingTrust Mortgage Bank Plc (LIVINGTRUST): -8.94% to ₦3.36
- ABC Transport Plc (ABCTRANS): -8.65% to ₦5.70
- HMC Allied Products Plc (HMCALL): -6.23% to ₦3.61
The decline in these stocks reflects continued profit-taking and weak demand in lower-tier equities.
Top Trades
Trading activity remained dominated by banking stocks, with First HoldCo Plc leading in volume at 76.64 million shares.
Other major contributors include:
- Guaranty Trust Holding Company Plc: ₦4.88 billion
- United Bank for Africa Plc: ₦2.83 billion
- Access Holdings Plc: ₦1.62 billion
- Japaul Gold and Ventures Plc: ₦94.35 million
This underscores the sustained role of the financial sector in driving overall market liquidity.
Fixed Income and ETF Market
The bond market recorded selective gains, with FGS202882 rising by 15 percent and FGS202776 gaining 3 percent, while other instruments remained largely unchanged.
The ETF segment showed mixed performance:
- STANBICETF30 gained ₦257.99
- VSPBONDETF and VETGRIF30 posted modest gains
- VETBANK closed flat
- VETINDETF declined by ₦4.50
Market Outlook
The Nigerian stock market continues to demonstrate resilience, with steady gains despite reduced trading volumes.
The broad-based nature of the rally, particularly across consumer goods and industrial stocks, signals improving market depth and investor confidence.
While liquidity remains supportive, the divergence between large-cap strength and small-cap weakness suggests that investors are becoming more selective in their positioning.
The market is expected to maintain its upward bias in the near term, although intermittent pullbacks may occur as investors take profits following recent gains.
